NorthMarq Capital Finances Multifamily Deal in Austin

Apr 4, 2014
CoStar


The Chicago regional-based office of NorthMarq Capital arranged acquisition financing of $25.25 million for The Cottages, a 330-unit multifamily property located at 8515 Interstate 35 in Austin, TX


The transaction was structured with a five-year term and 29-year amortization schedule after 30 months of interest only payments. MIG Real Estate sold the property to Strategic Realty Capital in December 2013


NorthMarq is the largest privately held commercial real estate financial intermediary in the US, providing mortgage banking and commercial loan services in 34 offices from coast to coast. The company has more than $10 billion in annual production volume and services loan portfolios of more than $24 billion


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